Broadcom Inc. (NASDAQ:AVGO) Position Increased by Seamount Financial Group Inc.

Seamount Financial Group Inc. raised its stake in Broadcom Inc. (NASDAQ:AVGO) by 1.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 6,897 shares of the semiconductor manufacturer’s stock after buying an additional 112 shares during the quarter. Broadcom makes up about 1.1% of Seamount Financial Group Inc.’s investment portfolio, making the stock its 25th largest holding. Seamount Financial Group Inc.’s holdings in Broadcom were worth $1,599,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of AVGO. Central Pacific Bank Trust Division raised its stake in shares of Broadcom by 21.5% during the fourth quarter. Central Pacific Bank Trust Division now owns 20,955 shares of the semiconductor manufacturer’s stock valued at $4,858,000 after purchasing an additional 3,707 shares in the last quarter. Wolff Financial Management LLC acquired a new position in shares of Broadcom during the fourth quarter valued at approximately $244,000. Strait & Sound Wealth Management LLC boosted its stake in Broadcom by 829.8% during the 3rd quarter. Strait & Sound Wealth Management LLC now owns 7,950 shares of the semiconductor manufacturer’s stock valued at $1,371,000 after purchasing an additional 7,095 shares in the last quarter. Catalyst Financial Partners LLC boosted its stake in Broadcom by 943.3% during the 3rd quarter. Catalyst Financial Partners LLC now owns 20,136 shares of the semiconductor manufacturer’s stock valued at $3,473,000 after purchasing an additional 18,206 shares in the last quarter. Finally, Motive Wealth Advisors raised its stake in shares of Broadcom by 1,076.5% in the 4th quarter. Motive Wealth Advisors now owns 4,600 shares of the semiconductor manufacturer’s stock worth $1,066,000 after buying an additional 4,209 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Broadcom Stock Up 4.5 %

Shares of Broadcom stock opened at $235.04 on Tuesday. The firm has a market cap of $1.10 trillion, a price-to-earnings ratio of 191.71, a P/E/G ratio of 2.42 and a beta of 1.02. The stock has a 50-day simple moving average of $219.76 and a 200-day simple moving average of $184.56. Broadcom Inc. has a 52-week low of $119.76 and a 52-week high of $251.88. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.17 and a quick ratio of 1.07.

Broadcom (NASDAQ:AVGO) last posted its earnings results on Thursday, December 12th. The semiconductor manufacturer reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.39 by $0.03. Broadcom had a net margin of 11.43% and a return on equity of 28.00%. The firm had revenue of $14.05 billion during the quarter, compared to analysts’ expectations of $14.07 billion. During the same period in the previous year, the company earned $0.98 earnings per share. The company’s revenue was up 51.2% compared to the same quarter last year. On average, equities research analysts expect that Broadcom Inc. will post 5.38 earnings per share for the current fiscal year.

Broadcom Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 1.00%. This is an increase from Broadcom’s previous quarterly dividend of $0.53. The ex-dividend date was Monday, December 23rd. Broadcom’s dividend payout ratio is presently 192.50%.

Insider Buying and Selling at Broadcom

In related news, Director Harry L. You sold 6,540 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $240.00, for a total value of $1,569,600.00. Following the transaction, the director now directly owns 30,450 shares of the company’s stock, valued at approximately $7,308,000. This trade represents a 17.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Hock E. Tan sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $239.96, for a total value of $10,798,200.00. Following the sale, the chief executive officer now directly owns 842,836 shares of the company’s stock, valued at $202,246,926.56. The trade was a 5.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 191,278 shares of company stock worth $44,964,800 over the last three months. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

AVGO has been the subject of several research reports. Piper Sandler raised their target price on Broadcom from $200.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Bank of America raised their price objective on shares of Broadcom from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Hsbc Global Res upgraded shares of Broadcom to a “hold” rating in a report on Tuesday, December 3rd. Barclays lifted their price target on shares of Broadcom from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Finally, Morgan Stanley decreased their target price on Broadcom from $265.00 to $246.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Three equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $225.04.

Broadcom Company Profile

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.